Knicks close to trade for Felton, which could make Lin a Rocket

Sunday July 15th, 2012

LAS VEGAS -- The Jeremy Lin era in New York may be over.

Despite the fact that the Knicks have been widely expected to match Houston's three-year, $25.1 million offer sheet for the restricted free agent point guard, they are nearing a sign-and-trade with Portland for free agent point guard Raymond Felton that appears to be threatening that stance. Felton's agent, Tony Dutt, confirmed that Felton is close to landing a multiyear deal to return to the place where he had his best season in 2010-11.

Sources confirmed the Knicks would receive Felton and veteran center Kurt Thomas while the Blazers land center Dan Gadzuric and forward Jared Jeffries. There was conflicting information on Felton's deal with the Knicks, though, as numerous reports indicated he would be paid a combined $10 million over three years while a source with knowledge of the deal insisted to that it was a four-year deal worth approximately $18 million.

While it wasn't immediately known if the Knicks would match Lin's deal and add him in addition to Felton and recently signed Jason Kidd, the Rockets weren't ready to consider Lin theirs just yet on Saturday night in Las Vegas. The day had been bizarre enough as it was, with reports that Houston officials had been unable to hand-deliver the offer sheet to Knicks general manager Glen Grunwald at the NBA Summer League in Las Vegas.

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